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SOUTHEASTERN COLORADO WATER CONSERVANCY DISTRICT <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2005 <br />NOTE 6 -LONG-TERM LIABILITIES <br />The following is a summary of changes in long-term liabilities in the government-wide financial statements <br />for the year ended December 31, 2005: <br />Balance Balance <br />January 1, December 31, Due Within <br />2005 Increases Decreases 2005 One Year <br />Governmental activities - <br />Contract obligation - <br />Bureau of <br />Reclamation $ 91,501,228 $ 1,674,464 $ 7,379,617 $ 85,796,075 $ 3,833,079 <br />Compensated absences 20,297 92,762 32,102 80,957 32,000 <br />Total governmental <br />activities 91.521.525 $ 1,767.226 $ 7.411,719 85,877.032 3.865.079 <br />Payments on the contract obligation to the Bureau of Reclamation and the compensated absences liability are <br />recorded in the general fund. <br />Balance Balance <br />January 1, December 31, Due Within <br />2005 Increases Decreases 2005 One Year <br />Business-type activities - <br />Safety of dams contract <br />obligation -Bureau of <br />Reclamation 1.022,000 $ - $ 60000 $ 962,000 $ 60,000 <br />The above obligation is serviced by the District's water activity enterprise fund. ~ <br />The following is a description of each individual issue for the governmental activities: <br />$132,237,478 contract obligation to the Bureau of Reclamation; this amount <br />represents the District's share of the original costs of construction; no explicit <br />interest rate stated but an annual interest cost is imputed by the Bureau of <br />Reclamation; due in estimated amiual installments ranging from $3,833,079 <br />to $5,496,487 through 2024; debt is serviced by the general fund <br />Compensated absences <br />Total governmental activities <br />$ 85,796,075 <br />80,957 <br />$ 85,877.032 <br />-27- <br />